Investar Holding Corporation $ISTR Stake Raised by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in Investar Holding Corporation (NASDAQ:ISTR) by 12.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,454 shares of the financial services provider’s stock after acquiring an additional 10,342 shares during the quarter. Acadian Asset Management LLC owned about 0.94% of Investar worth $1,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Copeland Capital Management LLC raised its position in Investar by 26.4% in the first quarter. Copeland Capital Management LLC now owns 3,001 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 626 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Investar by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 38,307 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 1,256 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Investar by 8.0% in the 4th quarter. Ameriprise Financial Inc. now owns 17,455 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,300 shares in the last quarter. GAMMA Investing LLC increased its stake in Investar by 3,194.4% in the 1st quarter. GAMMA Investing LLC now owns 1,779 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 1,725 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Investar by 12.7% in the 4th quarter. BNP Paribas Financial Markets now owns 16,137 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 1,817 shares in the last quarter. 50.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler lifted their price target on Investar from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $27.00.

Investar Price Performance

Shares of ISTR opened at $22.62 on Wednesday. The company has a market capitalization of $222.35 million, a price-to-earnings ratio of 10.10 and a beta of 0.62. Investar Holding Corporation has a fifty-two week low of $15.39 and a fifty-two week high of $24.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50-day moving average is $22.38 and its 200-day moving average is $19.78.

Investar (NASDAQ:ISTR) last issued its earnings results on Monday, July 21st. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. The company had revenue of $22.27 million for the quarter, compared to the consensus estimate of $21.15 million. Investar had a return on equity of 8.84% and a net margin of 14.33%. Equities research analysts expect that Investar Holding Corporation will post 1.83 EPS for the current fiscal year.

About Investar

Investar Holding Corporation operates as the bank holding company for Investar Bank that provides a range of commercial banking products to individuals, professionals, and small to medium-sized businesses in south Louisiana, southeast Texas, and Alabama in the United States. The company offers various deposit products and services, such as savings, checking, money market, and individual retirement accounts, as well as various certificates of deposit; debit and credit cards; internet, mobile, and video banking services; and reciprocal deposit products.